(a) Unless it first secures the written consent of the State Controller, or of a person authorized in writing by the State Controller to issue the consent, no California corporation or foreign corporation whose principal place of business is in California can transfer on its books or issue a new certificate for any share of its capital stock which:

(b) Pursuant to authority granted by Revenue and Taxation Code Section 14348 the Controller has issued blanket consents dispensing with the consent to transfer requirement under conditions set forth in the blanket consent thereby permitting the corporation or transfer agent to transfer shares without securing a release from the Controller in each case.

Consent is unnecessary where the stock of a foreign corporation whose principal place of business is outside his State is forwarded to a California transfer agent for transfer.

If a consent to transfer stock from the name of any decedent to the executor of his will or the administrator of his estate has been obtained, a second consent is unnecessary for any subsequent transfer of the stock from the name of the executor or administrator to the name of any other person pursuant to an order of sale. A second consent to transfer is necessary for a subsequent transfer of the stock from the name of the executor or administrator to the name of any other person pursuant to a decree of distribution.

Note: As to issuance of consents, see Section 14345.1.